Supermicro stock soars after review finds no evidence of fraud
Key points
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Supermicro stock surged almost 30% on Monday.
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The catalyst was news that an internal investigation found no misconduct.
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The AI stock has been on a rollercoaster ride this year.
Supermicro stock jumped almost 30% on Monday, making it one of the day’s top gainers.
Super Micro Computer (NASDAQ: SMCI) stock was one of the top gainers on Monday, as the stock price skyrocketed 29% to about $42 per share.
The catalyst for the server manufacturer, typically called Supermicro, was the news that it had not been involved in any fraud or misconduct following an investigation into its governance and controls.
The issues had caused Supermicro not to file its annual report for the fiscal year…
